GBPEUR rates movement – best time to buy euros – best time to sell euros – STEVE EAKINS

So far this week we have had a few surprises for the GBPEUR pairing in what was originally expected to be the quitter period for the pairing. For example over the last 4 trading days the currency pair has moved by nearly 3%, significantly more that the interest you would earn holding funds for a whole year.  It again goes to show how quickly the market can move and equally how important it is to keep an active eye on the market or ask your broker to on your behalf.

Today we now enter the busier period with a host of data from the UK and Europe that will again move markets. Later today we have the important GDP figures for the UK which is expected to be corrected up to reflect the better data from the UK recently and tomorrow both the bank of England and the European Central bank release their Interest Rate Decisions and updates on Asset buying program or QE. There is talk that the Europeans may cut their interest rates which if confirmed would create a great buying opportunity for Euro buyers. I personally think it’s not going to happen but it may…

As a result I would urge anyone with a currency requirement to get in contact with their broker for up to date live updates and forecasts.  The view is that the Pound will continual to move up against the single currency and could even test the 1.20 levels at the inter-bank price.  Here we offer a pro-active service helping people time their trades, keeping them up to date with the latest information and SPIKES so they can make an informed decision on when to trade.  So if you are in this situation then these will probably be useful to you. Feel free to contact the author – STEVE EAKINS – via email at [email protected] or by using the number at the top of the page.